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Nashville Mortgage Rates Update- 03/14/12
Posted by: | CommentsNashville Mortgage Rates
After 4 months of tight trading and little change in the interest rate markets, it all came to a screaming end yesterday and today. Whenever there is a long sideways movement, as the 10 year and mortgage backed securities have been since November, and with continuing soft technicals in the bond market, it only takes a slight break of the range to tip the scale. This time the break came yesterday when the 10 year treasury went above 2.10%; not it’s trading at 2.28%/
As we have noted in the last couple of weeks, the Europe debt crisis was lessening, taking one of the supports out of U.S. treasuries. Greece got its bailout deal on Monday, although safety trades had been weakening for the past couple of weeks. The next crutch kicked out was yesterday’s FOMC policy statement indicating the Fed was not ready to launch another QE move. Add in the equity markets being stronger and pushing investors into stocks and out of fixed income investments that were not yielding much return. Many stock analysts were talking and recommending investors move out of bonds and into equities and/or commodities. Tie in better economic data recently, the strong rally in stock indexes and interest rates had little chance of additional improvement, and it all has culminated in a quick increase in the bond and mortgage market rates.
So where to now? We still do not believe interest rates will increase much; while the lows have been put in (at the beginning of February), there wasn’t enough movement to shake out investors and traders. Equally, we don’t expect lower interest rates; looking at the charts, possibly the 10 year goes to 2.40% where it failed at the end of October. In that move the 10 year shot to 2.40% from 2.15% in just 2 days. Three days later the 10 year note was back down to 2.00%. Not suggesting that will occur this time, but we can expect a bounce in the next day or two.
Let the recent spike in rates settle down before making hasty decisions. There is little reason to expect rates to fall back to the lows on Monday, but there may be some improvements- don’t become too enthused if there is a rally, use it to lock your floating interest rate in. Check back soon for more Nashville Mortgage Rates Updates.
Nashville Mortgage Rates Update- 12/23/11
Posted by: | CommentsNashville Mortgage Rates
Mortgage backed securities were down 31 basis points today and the 10 year treasury yield up to 2.02% after being as low as 1.80% this week. No major news out of Europe this week, so most of the focus was on U.S. economic news, which for the most part was positive this week.
We hope you have a wonderful Christmas with your family this weekend!
Way to Go Cardinals!
Posted by: | CommentsCongratulations 2011 World Series Champions!!!
Video- What Are You Looking for in A Nashville Mortgage Loan Officer?
Posted by: | CommentsJust created this little video on YouTube: Nashville Mortgage Video
Tried to have a little fun with it, let me know what you think by posting a comment on YouTube- thanks!
Nashville Mortgage Rates Update- 10/17/11
Posted by: | CommentsNashville Mortgage Rates
And the story continues…stocks take a hit and the bond and mortgage markets rally, stocks rally and bonds and mortgage bonds (MBS) take a hit. Today it was the stock market’s turn to get hit; a nice rally in the interest rate markets (treasuries and MBS) were the result. Last week the Dow jumped 541 points while the 10 year treausury increased its yield by 17 basis points and mortgage prices declined (rates increased). The equity markets are likely a little too over-baked after the recent rally on the belief the economy will improve in the 3rd and 4th quarter. The equity markets were helped last week on renewed belief that Europe was about to get a package completed; over the weekend and this morning, news out of the region wasn’t so positive- the same kind of flip-flopping we have endured for over a year out of Europe.
German Chancellor Merkels’ chief spokesman caused a selling in equities today and the euro currency to fall when he said “dreams” of an imminent resolution to the crisis aren’t likely to be fulfilled at an October 23 summit. That Europe appears no closer to a plan will likely keep pressure on equities through the week adn will likely take US rates down somewhat. The bellwether 10 year note at 2.16% can fall to 2.00% area and not break the longer term negative outlook. Hard to get your arms around it, but in the end, Europe will dodge the big bullet of default this time around. Down the road however, Greece will likely have to default. The EU, IMF, and ECB along with Germany and France are more concerned about Spain, Italy, and Portugal- not wanting a landslide to occur. Saving Greece for now should provide the time and platform for saving the EU from complete disintegration.
Tomorrow the September PPI at 8:30 EST will be released. Inflation hasn’t been an issue so far and likely won’t be in the near term. The estimates are for an increase of .3% and the core (ex food and energy) up .1%. In August, the year over year PPI was a little stronger than expected, +6.5% and the core +2.5%. Traders will be looking at the annual change tomorrow, at 2.5% on the core it is at the stated level the Fed would like, but not much higher. The only other scheduled data is at 10:00, the NAHB October housing index, expected at 14, which is unchanged from September.
Nashville mortgage rates have a good chance of falling back a little this week, so if you are closing within the next 2 weeks, you might want to lock in this week on continued strength in the bond market. Stay tuned for another Nashville Mortgage Rates update to come later this week. Please check out my Free Mortgage Rates and Calculator App!
Nashville Mortgage Rates Update- 10/14/11
Posted by: | CommentsTreasuries had a bad week this week while mortgage slipped some, but not as severely as the treasury market. It was a week that saw huge unwinding of safety moves out of treasuries that had pushed the 10 year note down to 1.72% on concerns that Europe would fail to stop the sovereign debt problems from defaults. This week had better news out of Europe; it appears the various entities will work out something to avoid a Greek default that would likely have spread to Spain, Portugal, and Italy. It has been over a year that the EU (European Union), ECB (European Central Bank), IMF (International Monetary Fund) and the 17 countries have been trying to dodge the bullet, at the moment, markets are increasingly convinced a plan is being worked out.
The stock market has had a great week, also based on the outlook for Europe. Prior to this week, the stock market had trouble rallying and as time went on with Europe’s inability to resolve its problems, more bearishness filtered in with more expecting the U.S. would move back into recesssion. That view changed this week with increasing number of economists saying Q3 and Q4 GDP would be stronger than expected, and all the short positions that had accumulated were lifted, allowing equity markets a nice rally…
Interest rates have been increasing for 2 weeks, as we now believe the market is close to finding support. On the 10 year treasury, look for 2.30% to hold; if we are correct, the mortgage markets should improve as the 10 year sees some buying. Keep in mind the Fed is still in the game with $400 billion moving to the long end (10 and 30 year treasuries) from the short end on the Fed’s balance sheet. And don’t forget too- the Fed is upping its purchases of mortgage backed securities (MBS). On the economic side, markets have gone from exceptional bearishness to now an overdone bullishness. The economy is improving no doubt, as was evidenced by stronger retail sales Friday morning (September results); but unemployment isn’t improving, Congress and the Administration are nowhere near Obama’s jobs bill, the housing sector still in depression, and consumers are not spending except for necessities.
Next week, we have a number of economic releases- housing starts and permits, existing home sales, the Philly Fed business index, the two monthly inflation readings (PPI and CPI). Going into the week, the equity markets are overdone on the up-side in the near terms and may decline some. The mortgage backed securities (MBS) market is now technically oversold, and the 10 year treasury isn’t so much so, but it is close to where we expect support (to keep rates from escalating much from here).
This week, the 10 year note yield increased 16 basis points (bps), mortgage bond (MBS) prices were down 47 bps with only a slight increase in rates. The Dow up 541, NASDAQ up 189, and the S&P up 70.
Although we are expecting some improvement next week, we don’t want to front run that outlook. Until we see it unfolding, we have to respect the current trend (weakness) that now prevails. The technicals are bearish, even with some improvement next week, it won’t change the larger bearish tone that currently exists (for MBS and treasuries).
Check back often for future Nashville Mortgage Rates Updates, or give me a call at (615) 261-1368 if you have any questions about mortgages or the direction of mortgage rates.
Nashville Mortgage Rates Update – 08/26/11
Posted by: | CommentsNashville Mortgage Rates
Markets were very volatile following the Bernanke speech at 10:00 this morning, in which he said the central bank still has tools to stimulate the economy without signaling he will use them. And he didn’t give details on the meaures the Fed might take or signal when or whether policy makers might deploy them. He didn’t close the door in today’s speech to options he has previously discussed, including a 3rd round of government bond buying. He echoed comments from dissenting members of the Federal Open Market Committee (FOMC) who said data isn’t pointing to a recession. Reversing a 221 point loss, the Dow index ran up to +222, as Bernanke indicated the economy is deteriorating enough to warrant any immediate stimulus. Treasuries trimmed gains and the dollar swung to a loss. While the Fed chief didn’t announce an easing move, he did say the September FOMC meeting on 9/20 would be extended to a 2 day meeting, ostensively to have more time to discuss what to do, if anything.
Bernanke came off as “Gentle Ben” today, saying the economy isn’t bad enough to cause the Fed to print more money (easing move), but he made a clear point that fiscal incentives should be increased (Congress and this Administration) to get housing markets moving and suggested that Congress refrain from huge spending cuts in the next couple of years, then lay it on heavily after the economy gets on more solid footing. “Most of the economic policies that support robust economic growth in the long run are outside the province of the central bank,” Bernanke said. On 9/6 Obama is scheduled to make a key speech on his ideas on how to improve employment and support the housing sector; so far the President appears to not have much of a clue as to what course should be implemented.
The Commerce Department said today that U.S. gross domestic product expanded at a 1% annual rate in the 2nd quarter, less than the median economic forecast, which called for a 1.1% expansion. On the preliminary report last month, the Department said Q2 GDP was up 1.3%.
Treasuries and mortgage markets were exceptionally volatile this morning before settling down this afternoon. Mortgage prices around 10:30 EST were up 68 basis ponts then went to -3 basis points. The 10 year note rallied to 2.12% before stabilizing at 2.19%. Both markets are ending better today, but both are well off the reactionary best levels on the Bernanke speech when the DJIA was down over 200 points. Trading in equities and rate markets these days has become very risky with wide intraday and interday swings. In the end it now appears the bond and mortgage marketes will continue to consolidate and trade in a sideways pattern through next week.
With Bernanke comments that the economy, while slow, is still growing and much of the softness due to Japan’s earthquake and problems with the financial system in Europe that are temporary issues, we now question whether the bond market will take his comments on their face; if so, the 10 year note and mortgage rates may have seen their lows in rates when the 10 year note hit 1.97% for a few seconds last week. The 10 year has not been below 2.00% in most of our life times. Breaking below 2.00% on the 10 year isn’t completely out of the question- nothing ever is- but since the early 50′s with all the various crises the rate has never fallen below 2.00%. I have no opinion other than from here on, lower rates will take a recession and Fed stimulus; if neither happens, the 10 year (and therefore mortage rates) will not likely fall much more than where it now trades.
Stay tuned for more Nashville Mortgage Rates Updates coming soon…
Nashville Mortgage Rates Update- 08/04/11
Posted by: | CommentsNashville Mortgage Rates
Is today the final capitulation of investors that continued to bet on a better economy? We doubt it. While it looks bad, a capitulation has more fear and is better defined as a point where investors lose all will to hold on and cannot take it mentally- we are just not there yet. The Dow at its low was down this afternoon over 500 points; the 10 year Treasury note yield was down to 2.46% and mortgage prices jumped 78 basis points. The 10 year note rate has fallen 29 basis points since Tuesday and mortgage rates dropped 20 basis points. Today the trigger was more bad news out of Europe with the European Central Bank (ECB) acting as if the banking problems in Europe have almost blown up- they announced this morning it would lend any amount of money to any euro bank in a six month repurchase plan. That the central bank made this move is increased evidence that Europe is quickly unwinding with its economies softening and sovereign debt defaults increasing.
The U.S. economy is headed lower with corporate earnings, the main driver for most of the equity market improvement this year, expected to weaken through the rest of the year. Consumers haven’t shown any inclination to increase spending; even these low interest rates haven’t had any impact on spending.
During all the fumbling from our politicians, it has become increasingly apparent that Washington cannot affectively govern. That understanding has added to the bearishness over and above the actual economic softening. Through most of the final days of the debt ceiling debate, Obama warned of serious consequences to stocks if the debt ceiling wasn’t raised; wonder what he’s thinking now?
Tomorrow we get the July employment report. Expectations are for 76k non-farm jobs, 100k non-farm private jobs and the unemployment rate unchanged at 9.2% IF the data tomorrow is even slightly better than what the consensus estimates are, the markets may swing around in a huge increase in the indexes and the 10 year note yield along with mortgage rates will likely give back all of the gains we had today.
The financial markets are in full panic mode; the worst we’ve seen in 3 years. It is likely overdone and a rebound is increasingly likely. It will happen tomorrow if the employment report is better. The treasury markets are very overbought, but that said, any rebound in equities or increases in rates for treasuries and mortgages will not change the overall current bullish outlook for rates (that is lower rates).
Next week the FOMC meets- how will Bernanke and his team frame this? Will he do a QE 3, or signal it is coming? What can the Fed actually do- keep rates low? Rates are not, nor have been an impediment to the economy, and the Fed has very few “bullets” left.
Hang on to your hats- it’s going to be volatile for a little while. More Nashville Mortgage Rates Updates coming soon…
Nashville Mortgage Rates Update – 07/29/11
Posted by: | CommentsNightmare on Capitol Hill, like the movie it is scary what can happen. Chain Saw Massacre le by 87 Tea Party freshmen in the House. In the Senate there is no plan that can get passed, in the House there is no plan that can make it out so far. Two plans- one is Boehner’s, the other is Reid’s, and neither has enough support- yet. On the trading floors anger and frustration are increasing by the moment. Take heart America, this too will pass; but there will be a huge hangover. In the late afternoon we heard that Boehner has sweetened the pot for the 87 Tea Party House members- adding a provision for a Constitutional amendment for a balanced budget, thus appealing to more conservatives. In any case, if it passes it will be dead in the Senate.
The U.S. financial system is in very good shape, as global investors have not lost confidence in the U.S. as we see interest rates continue to fall. For all the concern over the horror show being played out in Washington, we are not Europe where there is nothing being done to keep numerous countries from defaulting on their debts. The U.S. has plenty of money to pay our obligations whereas Europe’s Fab 5 countries (Greece, Italy, Spain, Portugal, and Ireland) are essentially broke. There will be no default or delays in paying our bills, nor will we have to sell the Grand Canyon naming rights, or add Steve Jobs to Mount Rushmore for a large cash payment. What is playing out now in Washington is the prelims to next year’s elections and it isn’t going to be pretty based on what we have been witnessing now.
In the meantime we have to keep our eye on the bouncing ball. If the debt ceiling wasn’t out there, markets would likely be convulsing over what appears to be a double dip recession on the horizon—or at best, no economic growth. The employment sector is still weak and now data released this week is adding to the fear the economic growth has all but stalled. The Q2 advance GDP was +1.3%, a lot weaker than our economists were forecasting. That was a surprise, but the shocker was the revision to Q1 GDP, from 1.9% growth to 0.4%. On Wednesday, June durable goods orders were down 2.1%, this morning the Chicago purchasing managers index declined in July from June, the employment component, at 51.5, is close to contraction (a read of 50).
The 10 year note yield has moved to new lows- the yield has fallen to 2.80%, 5 basis points lower than the low in late June. Some of it has been from safety moves, while the debt ceiling impasse continues, and some of it has been on the weakening economic outlook and the fall in the equity markets. Most of the rationale for the decline in equity market indexes is being laid on the debt ceiling, but recent corporate earnings guidance from key companies has not been very optimistic about what is ahead for earnings and growth. Until the debt mess is resolved, it is difficult to handicap how much the economy is impacting the stock market.
On the week, interest rates declined, the 10 year Treasury note plunged 22 bps, and Nashville mortgage rates were down 15 to 18 bps (.15-.18%). It isn’t only in the U.S, as German bunds are falling as are rates in other global countries. The Dow fell 519, Nasdaq 98, and the S&P fell 50, making it the worst week in the stock market in a year.
It is more important than ever to check back with us for more Nashville Mortgage Rate Updates and market summaries in the coming days and weeks, as things may get a little bit crazy.
Nashville Mortgage Rates Update – 07/19/11
Posted by: | CommentsNashville Mortgage Rates
Rate markets started soft this Tuesday morning but gathered momentum at mid-day with a good move in mortgage prices (higher prices = lower rates). Markets got a shot of encouragement this afternoon. President Obama at 1:30 ET made an unexpected statement that the deal on a debt ceiling increase and some kind of spending cuts was getting closer (my read). The “gang of six” Senators on both sides of the isle have a plan, and the President seemed to endorse it.
The plan by the so-called Gang of Six would immediately cut $500 billion from the deficit (according to Sen. Conrad of ND) and would include $1 trillion of tax increases, yet would count as a $1.5 trillion tax reduction because it would eliminate the alternative minimum tax, designed to limit the deductions and credits high earners can claim.
The wrangling will go on until the “clock trikes mid-night”, but we are confident some kind of deal will be worked out, but equally confident however that it isn’t what is needed in the longer run. Any significant and meaningful deficit reduction and revenue increases will have to wait until after the 2012 elections and then into 2013 before serious work will be done. Of course, that in itself is a huge leap of faith and will only occur if citizens make it clear we are prepared to feel some pain.
The equity markets jumped on the comments from the President, and the key 10 year treasury note fell to 2.87% this afternoon, approaching 2.85% where from there rates shot back up to 3.25% in just five sessions from June 24th to June 30th. Traders will watch that level closely- if the market can get to 2.85%, there will likely be a big reversal (rates go back up). Still, the European mess with its debt problems and increasing concern over the regions’ banks will keep support in the U.S. treasury markets. Tomorrow will be interesting- will rates decline further?
Tomorrow, June existing home sales at 10 EST, expected up 2.5%. Another stronger housing report (like this morning’s) will increase talk that the housing sector has finally hit bottom. We are not yet in that camp be we are closing in on the bottom after 3 years of the worst housing sector since the Depression. 2012 will likely be the bottom; that said, interest rates will be moving higher next year. The smart play is to buy now when rates are at these historic lows, even though price appreciation won’t come for another couple of years.
Check us out during the rest of the week for more Nashville Mortgage Rates Updates.
Nashville Mortgage Rates Update- 07/12/11
Posted by: | CommentsNashville Mortgage Rates
The National Federation of Independent Business reported today that its monthly Small-Business Optimism Index dropped for the 4th consecutive month. According to the NFIB, the future business conditions and expected real sales components of the index pulled the overall index down. The report showed that earnings trends for small businesses remain in negative territory even though the economic recovery is in its third year. Sixty-nice percent of small business owners view this current period a poor time to expand and 75% of those blame the weak economy for their attitude along with 10% of them citing political uncertainty for their view.
The Fed released the minutes from its June 21-22 meeting this afternoon, and it is clear that the Fed is uncertain regarding our economic outlook and it follows that the markets are displaying the same uncertainty. Will there be a QE3??
Today was the first longer-term Treasury auction after the end of QE2, and it was well received and may pave the way for a strong 10 year (reopened) auction on Thursday.
Much of the trading day was spent around neutral territory after bonds made gains overnight on sovereign debt fears in Europe. The 10 year note has held under 3.00% indicating that investors are not at the moment convinced that the economy is growing enough and that problems in Europe will spread. Safe-haven trades are still strong as the U.S. is still considered a good bet given the bigger issues facing other global economies.
Late in the day Moody’s downgraded the long-term debt of Ireland to “junk” status. The knee-jerk reaction sent equities from up on the day to down on the day and put a stronger bid in the bond market (downward pressure on mortgage rates). The contagion is obviously spreading and will weigh heavily on European markets when the open tomorrow.
Over the last couple of days we have seen mortgage rates tumble a bit, so if you are on the conservative side and closing on your loan within the next couple of weeks, you might go ahead and lock your rate in. Otherwise, stay tuned for more Nashville Mortgage Rates updates to make sure you don’t miss out on the rate you want!
Nashville TN Homes for Sale- Stunning Burton Hills Custom Home
Posted by: | CommentsNashville TN Homes for Sale
This amazing Burton Hills subdivision custom-built home is sure to impress! Located at 904 Huntington Cir in Nashville (Green Hills), this home truly shows as brand new. You will absolutely fall in love with the extensive millwork and gorgeous hardwoods throughout then main living areas, the vaulted ceilings with skylights, the built-ins, and the massive amount of light coming through.
904 Huntington Cir
If you would like more information on the great Green Hills listing, please call Hagan Stone with Pilkerton Realtors today at (615) 423-6191, or email him at hagan@haganstone.com. He’d be happy to take you on a personal tour of this home. In the meantime, check out these pics or visit http://www.pilkertonrealtors.com/hagan-stone-listings . Inventory of homes for sale in Nashville TN is picking up, but the good ones like this won’t last long!
Facebook Posting Risks
Posted by: | CommentsWith so many on Facebook now, there some really easy ways to get yourself in trouble. There are some very important things to consider when posting to Facebook, so that you can prevent the proverbial “unintended consequences”. Check out this great article:
http://community.nasdaq.com/News/2010-09/5-facebook-posts-that-put-you-at-risk.aspx?storyid=36661
Tip on Where to Go For a Car Loan
Posted by: | CommentsI’m trying to sell my car, and today I had a conversation with someone who might be interested in buying it. But they had no idea how much loan they might qualify for, what kind of rates would be offered, etc. It made me remember back to my old retail banking days when we’d be competing for car loans, and there always seemed to be one thorn in our side- Southeast Financial Credit Union!
I have always remembered that they had the most aggressive auto loan rates and terms available, and you didnt even have to be a member. They will supposedly lend to anyone in the US too. So I told my car prospect that she should give them a call to get a better idea of what her payment might be.
Who knows? Southeast Financial Credit Union might just help me sell a car! Check them out at: http://www.southeastfinancial.com/rates
(SEFCU also can refinance your car loan, so it might be worth seeing if they can save you some money….fyi, I have NO affiliation whatsoever with them- just hoping this info could help some people)
How to Remove PMI From Your Nashville Mortgage Loan
Posted by: | CommentsHow to Remove PMI From Your Nashville Mortgage Loan
The word PMI conjures up a lot of emotion, usually not the good kind. PMI, or Private Mortgage Insurance, is required on conventional loans when the borrower doesn’t have at least a 20% down payment. (FHA loans have it too, but the most common FHA loan, the 30 year fixed, has it regardless of down payment). Since it could add as much as $300/mo to the payment, my Nashville mortgage clients are very interested in knowing just how to get rid of this insurance as soon as possible.
But most people assume that as soon as they have a 20% equity position in their home, they can simply have it removed from the loan. They assume this because this is what they have been told by many Nashville mortgage originators, realtors, and even title agents, all who are generally very well informed. It’s compounded by the fact that the mortgage servicers themselves have not done a good job of notifying their customers when it can be removed.
So what’s the real scoop? It really depends on whether you’re basing the percentages on the increase in the value of your property (vs. the balance), whether it’s based strictly on your pay-down of the principal balance to below the 80% threshold, or if neither of these, the original amortization schedule itself.
Increase in the Value of Property: the Homeowner’s Protection Act of 1998 (HPA) does not require the lender to consider the current property value, so a borrower will have to check with the mortgage servicer to see if they would be willing to do so. Most lenders won’t consider dropping PMI when a new appraisal is used if the borrower hasn’t had the loan for at least 2 years, because Fannie Mae (FNMA) policy requires at least 2 years from the date of closing in order to drop the PMI. After having the loan for 5 years, FNMA allows for dropping it at 80% using a new appraisal. Between 2 and 5 years, they want you to have the loan-to-value ratio below 75%.
Borrower Accelerated Pay-down of Principal (Cancellation): the HPA does cover these circumstances. If the borrower has paid the principal balance down to 80% or below of the lesser of the purchase price of the home or original appraised value, they can contact the servicer and request that the PMI be cancelled. They must submit the request in writing, have had a good payment history, and satisfy any lender requirements such as asserting that they have no 2nd mortgage on the property, and that the property value has not gone down. If the require the latter, it might mean they’ll want a new appraisal, which could cost up to $400 or so. You’ll definitely want to contact them to find out what their exact procedures are for your getting rid of PMI on your Nashville mortgage loan.
Automatic PMI Termination: the HPA also covers this scenario. When the mortgage principal balance, according to its initial amortization schedule, and regardless of the current outstanding balance on that date, reaches 78% of the original value of the home (lesser of the purchase price or original appraisal), the PMI can be cancelled. For example, on a $200,000 sales price and a 10% down payment, it would take about 8 years for the PMI to be terminated by this schedule. Most lenders will follow this schedule, but some won’t, so you have to be diligent. If your PMI remains in your payment after this, you must call the servicer and request to have it removed from your mortgage, per HPA.
Final PMI Termination (worst case): Under HPA, if PMI hasn’t been canceled or otherwise terminated, it must be removed within 30 days of the loan balance reaching the midpoint of the amortization schedule. E.g., on a 30 year loan, the midpoint would be a 15 years, or 180 months. The borrower must be current on the mortgage.
If your situation falls into the bottom 3 scenarios above, and the servicer you are dealing with tells you something different, you can dispute their claim by referencing HPA. If that doesn’t work, you can always take it to the entity regulating the servicer in question, which is typically the Office of the Comptroller of Currency (OCC), http://www.occ.treas.gov/customer.htm. Being proactive could save thousands of dollars on your Nashville mortgage!
